Understanding Philadelphia Estate Planning
Regardless of age, marital status, or personal circumstances, everyone should consider estate planning. This process, facilitated by a skilled Philadelphia estate planning attorney, ensures your assets are distributed as per your wishes upon your demise. Moreover, it involves creating advance directives, which safeguard your healthcare decisions if you become incapacitated. With extensive experience, the team at van der Veen, Hartshorn and Levin is well-equipped to handle all your estate planning needs.
Key Aspects of Philadelphia Estate Planning
Our firm can assist with various estate planning elements, including:
- Drafting and executing a will
- Establishing a trust
- Creating advance directives
- Amending a will
- Managing beneficiary designations
The Importance of Drafting a Will
Drafting a will is a crucial aspect of estate planning. Pennsylvania law necessitates the testator to be at least 18 years old and of sound mind to draft a will. The document must be written and signed by the testator. If the testator cannot physically sign but remains mentally competent, alternative validation methods are available. Wills enable you to dictate how your assets are distributed post-death. If you die intestate (without a will), your assets are distributed following Pennsylvania's intestacy laws. Your attorney can also assist with beneficiary designations or establishing a trust.
Pennsylvania recognizes various types of trusts, each with specific requirements. Trusts enable asset distribution bypassing probate and can provide for your loved ones post-death. Trusts can be revocable or irrevocable, depending on your specific needs.
Creating Advance Directives
Advance directives, another crucial facet of estate planning, enable you to appoint a healthcare decision-maker and articulate specific medical preferences in case you become incapable of communicating them.
Engage With Our Philadelphia Estate Planning Lawyers
Estate planning, although complex, is vital for everyone. Be it drafting a will, creating a trust, establishing advance directives, or any other estate planning aspect, our proficient attorneys can assist. At van der Veen, Hartshorn, and Levin, we're committed to serving clients across Philadelphia, handling diverse estate planning issues. Call us today at 215-918-4620.